Massive USDC Transfer to Coinbase May Trigger a Significant Wave Within the CryptoMarkets Soon!

The crypto space attempted to rise high after a brief consolidation, but FOMC fear appears to have reinstalled strength within the bears. The global market capitalization has not changed significantly; it is still circling around $922 billion.

Timeline of Usd-coin

Payments platform Wirex now supports the USD Coin (USDC) on the Stellar blockchain within the Wirex app and lets users save or spend USDC in real life. Support for USDC on Stellar is now available in the Wirex app using a crypto-enabled debit card, according to a press release on Tuesday (Oct. 11).

Payments Fintech Wirex says it has launched USDC (USD Coin) on the Stellar blockchain within its App. USDC is a dollar-based stablecoin issued by Circle and one of the most popular stablecoins in the world.

After losing $10 billion in three months, Circle's dollar-pegged stablecoin USD coin (USDC) is inching back following the coin's rise that benefitted from Terra's collapse in May and the subsequent fallout of the overall market.

USDC and USDT — two renowned stablecoins backed by the fiat currency, USD witnessed quite a few tussles over the years to stand at the #1 mark. While the latter still holds the trophy, USDC participated in many ‘highs' to at least try to give a tough fight for the trophy.

The crypto market is known for its volatility and market participants tend to trade and invest despite this, although they are continually engulfed with fear. To overcome this volatility issue, stablecoins were created, which aim to mirror traditional currencies with blockchain technology. Stablecoin derives its value from getting pegged against the dollar.

The stablecoin issuer has burned $9 billion worth of USD Coin (USDC) from its total supply in the last three months. The post Circle removed $9 billion from USDC supply in the last three months appeared first on The Block.

One of the expectations of the crypto community is adoption, a journey on which USDC has embarked. The more countries adopt crypto and its products, the better the industry thrives in value and utility.

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC's market capitalization has lost 12.05%.

Crypto payments company and USDC issuer Circle will launch a cross-chain transfer protocol to support USDC interoperability. The post Circle introduces bridging protocol focused on USDC payments appeared first on The Block.

Circle, the parent company of USDC, which is the second largest stablecoin in terms of market capitalization, reduced its stablecoins supply by 10%. Will the reduction in the supply have a negative impact on USDT's future.